How about a downgrade?
07-30-2015, 03:58 PM
#21
Le Mans Master
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I look at it this way. All cost money, need oil/gas, and on some occasions a repair. If that's the case, then I'm gonna do all that with my Corvette. BTW, if you don't drive your Corvette that much, will you drive any other lesser car that much? Just thinking out loud.
I have had those thoughts also I admit. But, all I have to do is pull the Vette out of the garage, drive it around the block, and I'm instantly healed of those toxic thoughts.
I have had those thoughts also I admit. But, all I have to do is pull the Vette out of the garage, drive it around the block, and I'm instantly healed of those toxic thoughts.
07-30-2015, 04:10 PM
#22
Drifting
I have worked hard all my life to have the ability of enjoying sports cars and daily drivers that I can now afford. I have different vehicles for different needs and enjoy driving each. I love and put the most miles on my practical, AWD Subaru Outback 3.6 that is my DD.
I don't think in terms of going backward or downgrading in any manner and will always have a bad **** Corvette or two.
I do understand that if your vette is your sole ride that under certain life circumstances opting for a more practical and inexpensive ride might make sense.
I don't think in terms of going backward or downgrading in any manner and will always have a bad **** Corvette or two.
I do understand that if your vette is your sole ride that under certain life circumstances opting for a more practical and inexpensive ride might make sense.
07-30-2015, 04:15 PM
#23
Racer
Since I was a teen there has only been one vehicle I've been passionate about ... the Corvette. To hard to put into words, I guess it's like I've heard other's say many times, you either get it or you don't ... no right or wrong, just a matter of individual taste, desire, etc. 
07-30-2015, 04:49 PM
#24
Melting Slicks
Thread Starter
I don't disagree with your "net" numbers... I just said $12k loss instead of $7k... but I also think they will be equal, at best. 
The Corvette will definitely have a higher % residual value than a Genesis or BRZ. No argument there. Where that is exactly is anyone's guess.
Personally, if I sold either/both of my Vettes, I wouldn't even consider a lower cost "sporty" car. But that's just me.
The Corvette will definitely have a higher % residual value than a Genesis or BRZ. No argument there. Where that is exactly is anyone's guess.
Personally, if I sold either/both of my Vettes, I wouldn't even consider a lower cost "sporty" car. But that's just me.
Along with never really using the corvette and realizing the non practicality of it, I will be honest and say I have a daughter who will be going to college, and a job that is now laying people off...so that is part of the reason for the analysis on my part. Plus I like small tuner cars...I do miss them as I grew up in one...the high reving engines the ability to go full throttle and toss them around , the lower responsibility and less concern due to dings, dents etc......I do miss the freedom of caring less about a material thing...
Last edited by Cor430vette; 07-30-2015 at 04:55 PM.
07-30-2015, 06:07 PM
#25
Safety Car
The depreciation number is the only number that cannot be exactly quantified and it is the most important one...so your right the savings if I analyze it further can be as high as 10k. Even in resale in 5 years...and that saving increases as time continues ....
Along with never really using the corvette and realizing the non practicality of it, I will be honest and say I have a daughter who will be going to college, and a job that is now laying people off...so that is part of the reason for the analysis on my part. Plus I like small tuner cars...I do miss them as I grew up in one...the high reving engines the ability to go full throttle and toss them around , the lower responsibility and less concern due to dings, dents etc......I do miss the freedom of caring less about a material thing...
Along with never really using the corvette and realizing the non practicality of it, I will be honest and say I have a daughter who will be going to college, and a job that is now laying people off...so that is part of the reason for the analysis on my part. Plus I like small tuner cars...I do miss them as I grew up in one...the high reving engines the ability to go full throttle and toss them around , the lower responsibility and less concern due to dings, dents etc......I do miss the freedom of caring less about a material thing...
You gotta do what you gotta do. If you're not driving it (and enjoying the car) enough to warrant it... then it isn't worth keeping.
07-30-2015, 06:20 PM
#26
Here's the problem... once you have purchased one of these cars it's too late to ask that question. If I had to do it all over again not sure I would have purchased one, for sure not the one I have. At four years old and 12k miles if I got rid of it I would lose my @$$ on it.
Here's the secret, the longer you keep it, the less the depreciation per year. I figure if I keep mine for forty years or so, it will only set me back a little more than a grand a year....
Of course that doesn't include insurance, tires, tabs, oil changes, repairs.
Here's the secret, the longer you keep it, the less the depreciation per year. I figure if I keep mine for forty years or so, it will only set me back a little more than a grand a year....
Of course that doesn't include insurance, tires, tabs, oil changes, repairs.
Last edited by R&L's C6; 07-30-2015 at 06:29 PM.
07-30-2015, 06:47 PM
#27
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Here's the problem... once you have purchased one of these cars it's too late to ask that question. If I had to do it all over again not sure I would have purchased one, for sure not the one I have. At four years old and 12k miles if I got rid of it I would lose my @$$ on it.
Here's the secret, the longer you keep it, the less the depreciation per year. I figure if I keep mine for forty years or so, it will only set me back a little more than a grand a year....
Of course that doesn't include insurance, tires, tabs, oil changes, repairs.
Here's the secret, the longer you keep it, the less the depreciation per year. I figure if I keep mine for forty years or so, it will only set me back a little more than a grand a year....
Of course that doesn't include insurance, tires, tabs, oil changes, repairs.
07-30-2015, 06:53 PM
#28
07-30-2015, 07:45 PM
#29
Pro<br><img src="/forums/images/ranks/500-1000.gif" border="0">
You and I think the same way. I wanted a Corvette like I have for a long time. When I was younger (not married) I owned a 1961 and then a 1966 Corvette and both cars needed a lot of work that I couldn't afford to have done at the time (I would love to own either one of those cars now!) and I ended up parting with them. Many years past and my Corvette desire never went away, but due to family responsibilities I just couldn't justify buying the car I really wanted. Finally things worked out and I bought my 2012 GS and i've added a few cosmetic items to the car and it's not going anywhere as long as i'm still able to drive it. I finally got my Corvette and i'm keeping it.
07-30-2015, 09:52 PM
#30
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I'd never look at the price being the only, or even the primary, factor to determine what is or isn't a downgrade.
Performance wise, is an immaculate $50,000 '54 Vette an upgrade to a $25,000 '06 bone stock A6? Nah! And not only that you could beat the snot out of the C6, you'd be afraid to just drive the C1 for fear of damage.
If you don't play with your toys, you might as well get rid of them and get something you'd like. It's not price dependent. Just a happiness factor. Admittedly, if it's the wife instead of the car, then the cost to change can be significant.
Performance wise, is an immaculate $50,000 '54 Vette an upgrade to a $25,000 '06 bone stock A6? Nah! And not only that you could beat the snot out of the C6, you'd be afraid to just drive the C1 for fear of damage.
If you don't play with your toys, you might as well get rid of them and get something you'd like. It's not price dependent. Just a happiness factor. Admittedly, if it's the wife instead of the car, then the cost to change can be significant.
07-30-2015, 10:07 PM
#31
Drifting
Since I was a teen there has only been one vehicle I've been passionate about ... the Corvette. To hard to put into words, I guess it's like I've heard other's say many times, you either get it or you don't ... no right or wrong, just a matter of individual taste, desire, etc.
07-30-2015, 11:35 PM
#32
Melting Slicks
Thread Starter
I spent two days analyzing this from every angle and direction and the final conclusion ( and as a financial planner I exhausted myself analyzing every number) is to keep the car..
The resale on a mid 20k car and my Corvette is somewhere between 3 to 8k in savings at most if sold in 5 years. So to give up a once 70k car for a 25k car to save just 5 to 7k over a period of 5 years does not make sense...instead I will simply pay it off quicker reducing my fiance costs and save money that way...
I realized that there is ALWAYS a lower cost alternative but you have to weight the benefits vs costs and if the benefits outweigh the costs it simply does not make sense. The significant upgrade and benefits of the corvette, in comparison to the sporty 20k car, out weights the benefit of saving the money. In the end I believe over 5 years paying 7k more is not going to make or break me and it is worth paying that amount to keep it.
In fact the longer I keep it the more I save in not transitioning between vehicles which has always been a money waster for me as I tend to sell every 3 years....my new goal is to keep in this for 10+ years or more!!!
Thanks for the feedback everyone!!
The resale on a mid 20k car and my Corvette is somewhere between 3 to 8k in savings at most if sold in 5 years. So to give up a once 70k car for a 25k car to save just 5 to 7k over a period of 5 years does not make sense...instead I will simply pay it off quicker reducing my fiance costs and save money that way...
I realized that there is ALWAYS a lower cost alternative but you have to weight the benefits vs costs and if the benefits outweigh the costs it simply does not make sense. The significant upgrade and benefits of the corvette, in comparison to the sporty 20k car, out weights the benefit of saving the money. In the end I believe over 5 years paying 7k more is not going to make or break me and it is worth paying that amount to keep it.
In fact the longer I keep it the more I save in not transitioning between vehicles which has always been a money waster for me as I tend to sell every 3 years....my new goal is to keep in this for 10+ years or more!!!
Thanks for the feedback everyone!!
Last edited by Cor430vette; 07-30-2015 at 11:45 PM.
07-31-2015, 03:08 AM
#33
Safety Car
If you rarely, or never find the gas pedal on the floor, then you shouldn't feel bad getting rid of it for something you will actually feel comfortable taking advantage of.
07-31-2015, 03:44 PM
#35
Le Mans Master
Indulging one's passion, whether it be Corvettes, boats, motorcycles, golf, or whatever, is VERY seldom done because it is the financially sensible thing to do.
If you look at life primarily from a dollars and cents perspective, you're missing it.
That said, if you see your C6 in the garage and see only the dollars its costing, best to sell it and find something that DOES make you happy, regardless of the cost.
"If money is all that you love, then that's what you'll receive"
-- required SW quote
If you look at life primarily from a dollars and cents perspective, you're missing it.
That said, if you see your C6 in the garage and see only the dollars its costing, best to sell it and find something that DOES make you happy, regardless of the cost.
"If money is all that you love, then that's what you'll receive"
-- required SW quote
Last edited by Kent1999; 07-31-2015 at 03:48 PM.
07-31-2015, 03:56 PM
#36
The problem with life is you won't know if you should have saved more or spent more till it's all over. That can only be answered on the day they put you in the ground...
If I knew I would have an extra 100k or so left over when my time comes, I would be driving a new Corvette today.
07-31-2015, 05:21 PM
#37
Indulging one's passion, whether it be Corvettes, boats, motorcycles, golf, or whatever, is VERY seldom done because it is the financially sensible thing to do.
If you look at life primarily from a dollars and cents perspective, you're missing it.
That said, if you see your C6 in the garage and see only the dollars its costing, best to sell it and find something that DOES make you happy, regardless of the cost.
"If money is all that you love, then that's what you'll receive"
-- required SW quote
If you look at life primarily from a dollars and cents perspective, you're missing it.
That said, if you see your C6 in the garage and see only the dollars its costing, best to sell it and find something that DOES make you happy, regardless of the cost.
"If money is all that you love, then that's what you'll receive"
-- required SW quote
07-31-2015, 10:40 PM
#38
Melting Slicks
Thread Starter
Indulging one's passion, whether it be Corvettes, boats, motorcycles, golf, or whatever, is VERY seldom done because it is the financially sensible thing to do.
If you look at life primarily from a dollars and cents perspective, you're missing it.
That said, if you see your C6 in the garage and see only the dollars its costing, best to sell it and find something that DOES make you happy, regardless of the cost.
"If money is all that you love, then that's what you'll receive"
-- required SW quote
If you look at life primarily from a dollars and cents perspective, you're missing it.
That said, if you see your C6 in the garage and see only the dollars its costing, best to sell it and find something that DOES make you happy, regardless of the cost.
"If money is all that you love, then that's what you'll receive"
-- required SW quote
I get what you saying...and I agree, I just think that everyone can have fun but also be financially sensible that is the key.
Last edited by Cor430vette; 07-31-2015 at 10:43 PM.
07-31-2015, 11:43 PM
#39
Le Mans Master
Unfortunately, as a financial planner, I may be more sensitive to the actual problem of people not saving enough and having that attitude of have fun and do things that are not financially sensible ..you only live once blah blah. As a financial planner I weekly see people who lived their life with that attitude who are running out of money in retirement and now their scared and they don't know what to do.....
I get what you saying...and I agree, I just think that everyone can have fun but also be financially sensible that is the key.
I get what you saying...and I agree, I just think that everyone can have fun but also be financially sensible that is the key.
Clearly, as you have seen, there are many people that live beyond their means and then struggle through their elder years, but there are also the people who do nothing but save money all their life for the Golden Years. And tragically, a week, a month, or a year after retirement, have a stroke/heart attack/cancer, and either die suddenly, or are left in a wheelchair, never able to enjoy all their life's sacrificial savings. Similar to you, I saw this sickening scenario play out over and over again to my parent's community after I moved them into a really nice retirement area about 10 years ago.
08-01-2015, 02:33 AM
#40
Race Director
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You're absolutely right -- It's a balance. I guess what I was saying is spend your money effectively (not necessarily foolishly). When you can, spend money on what makes *you* happy, and then enjoy it and not spoil the happiness by agonizing over its cost.
Clearly, as you have seen, there are many people that live beyond their means and then struggle through their elder years, but there are also the people who do nothing but save money all their life for the Golden Years. And tragically, a week, a month, or a year after retirement, have a stroke/heart attack/cancer, and either die suddenly, or are left in a wheelchair, never able to enjoy all their life's sacrificial savings. Similar to you, I saw this sickening scenario play out over and over again to my parent's community after I moved them into a really nice retirement area about 10 years ago.
Clearly, as you have seen, there are many people that live beyond their means and then struggle through their elder years, but there are also the people who do nothing but save money all their life for the Golden Years. And tragically, a week, a month, or a year after retirement, have a stroke/heart attack/cancer, and either die suddenly, or are left in a wheelchair, never able to enjoy all their life's sacrificial savings. Similar to you, I saw this sickening scenario play out over and over again to my parent's community after I moved them into a really nice retirement area about 10 years ago.
My attitude is, I plan for tomorrow, but I live for today.